THE BERMUDA MARKET
A pre-eminent financial centre for insurance and reinsurance products and a leading jurisdiction in the international investment fund industry, Bermuda is recognised for its sophisticated and adaptable legislative and enhanced regulatory framework, highly qualified professionals, established infrastructure, tax efficiency and an international reputation as a world-class financial centre.
As one of the world’s leading providers of property catastrophe reinsurance and home to many global reinsurers, Bermuda’s excellence in global risk management solutions continues to make the island a jurisdiction of choice for traditional insurance, alternative capital structures, ILS funds, collateralised reinsurance, sidecars and is the fastest growing domicile for cat bond issuance.
Bermuda is also home to a corporate and regulatory culture that has fostered exceptional innovation in all aspects of risk transfer along with a business friendly approach. Its industry-leading insurers and reinsurers stand ready to help the investor understand their market and the investment opportunities it provides, making Bermuda the preferred domicile for ILS structuring, support and alternative reinsurance capital.
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THE WORLD’S RISK CAPITAL
The Bermuda Monetary Authority (BMA) reported 64 new (re)insurance entities registered in Bermuda in 2015. A total of 20 new special purpose insurers (SPIs) were registered in 2015. In the asset management space, the Authority registered 83 new funds.
Bermuda remains the leading jurisdiction for insurance securitizations listed on a recognized stock exchange and increased its market share to over 70% of global issuance as at year-end 2015, as reported by the Bermuda Stock Exchange (BSX).
Aon Benfield recorded alternative reinsurance capital grew 12% in 2015 reaching $72billion at year end. Alternative reinsurance capital continues to show steady growth and outpacing growth in traditional reinsurance capacity. Aon Benfield maintains their alternative capital estimate of US$120billion to US$150billion by 2018 and also reported continued growth trends in collateralized reinsurance and reinsurance sidecar activity in 2015.
ILS CONVERGENCE 2016 – BERMUDA, NOVEMBER 9 & 10
Now in its fourth year, ILS Convergence is a networking event for the alternative reinsurance, convergence and insurance-linked securities marketplace and is supported by the most respected organisations in the ILS sector. This 2-day event attracts over 300 investors and industry participants in the alternative reinsurance, convergence and insurance linked securities marketplace to Bermuda, the leading jurisdiction for ILS. Setting itself apart from most traditional conferences, ILS Convergence brings key players together to discuss the latest industry trends through networking and its unique Bermuda Shorts education sessions, all within an exclusive business setting in Hamilton, Bermuda.